Finance

Home page

Finance

Azerbaijan decreases GDP on oil-gas sector

23 February 2011 09:29 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Annual growth rate of Gross Domestic Products made 0.8%, including non-oil GDP was 6.6% in January, 2011, in Azerbaijan. These indicators have been reflected in the official report of State Statistical Committee on macroeconomic indicators of country. But, no information was recorded on oil GDP growth.

Thus, GDP volume was AZN 3 442.5 mln, as well non-oil GDP made AZN 1 412.7 mln. According to first accountings, GDP was AZN 2 029.8 mln in January. Growth rate of total GDP was 0.8%, including non-oil GDP was shown as 6.6% compared to January, 2010. According to calculations taking the ratio of oil and non-oil GDP in total GDP into account, oil GDP approximately decreased by 3.5%.

This was proved by the indicators of oil and gas spheres. Thus, oil extraction dropped 3.8%, gas production slid 10.7% in January, compared to a year earlier.